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GameStop Jumps 19% After Roaring Kitty’s $181M GME Investment Post

Gamestop

Following Keith Gill, often known as “Roaring Kitty” posting on Reddit that he owns $181.4 million worth of GME stock and call options, GameStop (GME) jumped over 19% in overnight trading.

Impact of Roaring Kitty’s Investment Revelation

Gill, the trader most often mentioned as a main impact on the 2021 GME short squeeze, posted to Reddit on his “DeepFuckingValue” account on June 2 for the first time since April 2021.

He posted an image supposedly indicating he bought 5 million GME shares for $115.7 million and invested $65.7 million into call options, hoping GME would reach at least $20 a share on June 21.

Gill’s snapshot reveals he is holding a loss of around $2.5 million on his call options while gaining over $9.3 million on his GME investments.

After Gill’s Reddit post, Robinhood’s nighttime markets saw GME leap by 19.19% in 20 minutes to $27.58.

According to Google Finance, GameStop ended Friday, May 31 at $23.14 with shares up 38.8% this year—probably in line with Gill’s comeback.

Gill also subtly posted a green UNO reverse card on X, adding to a run of obscure postings and memes he has been sharing since his unexpected comeback in May.

Some have considered Gill as the focal point of the GameStop story during the COVID-19 epidemic, whereby Reddit traders short the failing brick-and-mortar gaming retailer, thereby flipping the table on hedge funds generating money.

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Their activities ultimately drove the price of GameStop stock up over 1,000% in under a month.

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Others also think the GameStop short squeeze set the stage for a significant price increase in joke currencies like Shiba Inu and Dogecoin once retail redirected its focus elsewhere.

Gill was known to post on the r/wallstreetbets subreddit in the past, now well-known for its links to the GameStop short squeeze narrative, but the community has shifted away from GME material with its administrator “zjz” even remarking on June 3 that “this is not a GameStop subreddit.”

Gill’s most recent post was on the r/Superstonk subreddit, apparently a venue for primarily GME speculation.

Gill held 20,000 GME shares at a buy price of $55.17 a share according to his last post on April 16 on r/wallstreetbets. He was then making gains of $19.9 million.

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